meta_id 3116304

On April 30, 2026, Iceland's Official Gazette published Regulation 420/2026 concerning markets for virtual assets. The regulation was signed on April 20, 2026, by the Ministry of Finance and Economic Affairs and implements European Union (EU) requirements into Icelandic law. The regulation incorporates two delegated EU regulations into the Icelandic legal framework. The first, Commission Delegated Regulation (EU) 2024/1506 from February 22, 2024, establishes detailed criteria for classifying asset-referenced tokens and e-money tokens as significant. The second, Commission Delegated Regulation (EU) 2024/1507 from February 22, 2024, specifies criteria and factors that the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA), and competent national authorities must consider when exercising intervention powers. Both delegated regulations were adopted into Icelandic law through European Economic Area (EEA) Joint Committee Decision 213/2025 from September 19, 2025, which amended Annex IX (Financial Services) of the EEA Agreement. The regulation is based on authority granted under the Virtual Asset Markets Act 101/2025. The regulation entered into force immediately upon publication. The implementing regulations are attached as appendices to the gazette publication and provide the detailed technical standards for virtual asset classification and regulatory intervention procedures applicable in Iceland. REFERENCES: Official Gazette of Iceland, Regulation 420/2026 (April 30, 2026): https://www.stjornartidindi.is/